Advertisement

Beyond Active and Passive Candidates: Learning the Art of 'Talent Rediscovery'

Beyond Active and Passive Candidates: Learning the Art of 'Talent Rediscovery'
From Recruiter - November 9, 2016

Back in 2014, LinkedIn bought Steve Goodmans data science company Bright. It was easy to see why LinkedIn made the purchase: By aggregating and analyzing roughly 40 million resumes and 100 million job descriptions, Bright was able to make predictions about which candidates were worth interviewing and which were better left with a polite rejection email.Who wouldnt like to speed up the hiring process and spend more time with worthwhile candidates?

So Goodman and some of Brights other employees joined the LinkedIn family. While they were there, Goodman says, they started to receive inquiries from customersinterested in targeting an often overlooked talent segment: existing resume databases.

After the acquisition, a lot of our customers started to say, That is great technology for sitting in front of the ATS, but were sitting on a massive pile of resumes, Goodman explains.

For most of these customers, the only way to pick through the hundreds of thousandsif not millionsof resumes they had on hand was to use Boolean search strings. Because of how notoriously unreliable that method is, Goodman says, these customers were hoping for something bettersomething like Bright, but for existing candidates instead of new applicants.

This is where Goodman got the idea for his new company, Restless Bandit.

What[Restless Bandit] does is mine your internal resumes database of past applicantsyour silver medalists, the people who applied for the wrong jobs, the people who applied too early or too lateand it looks at the open job rec, Goodman explains. It systematically surfaces the best people who are minimally qualified, and then it reaches out to those people and says, Youre minimally qualified; why dont you apply?

According to Goodman, the goal of Restless Bandit is to deliver higher quality talent for less money in less time through the process of talent rediscovery.

Active Candidates Vs. Passive Candidates Vs. Rediscovered Candidates

Much has been saidby this website and others like itabout passive and active candidates, the differences between the two, and the various strategies for engaging with them. Goodmans aim with Restless Bandit is to help recruiters and employers tap into a third group of candidates: rediscovered talent. Goodman explains:

The way were thinking about the market is that you have active candidatespeople who apply through the usual job boardsand thats one bucket. And you have vendors and tools that you use for that category of applicant.

Then you have a second bucket that is the passive candidates, and we get at them through LinkedIn. There are other tools out there, but LinkedIn is obviously the 800-pound gorilla.



Advertisement

Continue reading at Recruiter »